this post was submitted on 07 Jan 2024
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SNOOcalypse - document, discuss, and promote the downfall of Reddit.

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In unsurprising news, Reddit prepares IPO (www.businessinsider.com)
submitted 11 months ago by cygnus@lemmy.ca to c/snoocalypse@lemmy.ml
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Now the social media platform is aiming for an IPO in the first quarter of 2024 with a valuation of $15 billion, and has been in talks with potential investors like Goldman Sachs and and Morgan Stanley, per Bloomberg.

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[–] CleoTheWizard@lemmy.world 1 points 11 months ago

This is true for almost every social media. They get popular for one thing and one things only and it’s mostly just content formatting. The rest is ads that make very little and they can’t diversify.